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ICRA ratings for Indian debt instruments-Oct 11
October 11, 2017 / 10:47 AM / 6 days ago

ICRA ratings for Indian debt instruments-Oct 11

    Oct 11 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 10, 2017.


COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Bhatia Coke & Energy Ltd                ST non-fund based Bk  ICRA D       755     Downgraded
                                        Fac                                        from ICRA A4
Bvl Granites                            Non-FBL               ICRA A4      10      Reaffirmed
Deutsche Investments India Pvt          CP                    ICRA A1+     22000   Assigned
Ltd
Jm Financial Credit Solutions           CP programme          ICRA A1+     20000   Outstanding
Ltd
Jm Financial Institutional              CP programme          ICRA A1+     10000   Assigned
Securities Ltd                                                                     /Outstanding
(enhanced from 400crs)
Jm Financial Institutional              ST Bk lines           ICRA A1+     1000    Outstanding
Securities Ltd
Jm Financial Products Ltd               CP programme          ICRA A1+     45000   Outstanding
Jm Financial Services Ltd               ST Bk lines           ICRA A1+     8000    Assigned
                                                                                   /Outstanding
(enhanced from 500crs)
Jm Financial Services Ltd               CP programme          ICRA A1+     11000   Outstanding
Kvtek Power Systems Pvt Ltd             ST Non fund based     ICRA A4      120     Issuer Not
                                                                                   Cooperating
Realtime Techsolutions Pvt Ltd          ST – Non Fund Based   ICRA A4+     151.4   -
Sanchita Frozen Foods Pvt Ltd           Bk Loans              ICRA A4+     100     Issuer Not
                                                                                   Cooperating
Sri Savitr Solar Pvt Ltd                NFBL                  ICRA A4      15      Issuer Not
                                                                                   Cooperating
Stovekraft Pvt Ltd                      ST –Non-fund Based    ICRA A4      250     Reaffirmed
Supreme Nutri Grain Pvt Ltd             Forward Contract LimitICRA A4      17.5    Issuer Not
                                                                                   Cooperating  
MEDIUM TERM RATINGS:
-------------------
Hind Rectifiers Ltd                     Medium Term: Fixed    MB           190     Assigned
                                        Deposit Programme (FD)
                                                                                   
LONG TERM RATINGS:
-------------------
Asansol Polyfabs (P) Ltd                Bk Fac                ICRA BBB-    100     Issuer Not
                                                              /ICRA A3             Cooperating
Asirvad Microfinance Pvt Ltd            NCD                   ICRA A       620     -
Asirvad Microfinance Pvt Ltd            Bk Fac                ICRA A       2000    -
Bharat Agro Impex                       FB Fac                ICRA B+      192.5   Assigned
Bharat Agro Impex                       NFBL                  ICRA B+      7       Assigned
Bharat Agro Impex                       Proposed Limits       ICRA B+      100.5   Assigned
                                        (Unallocated)
Bhatia Coke & Energy Ltd                LT FB Bk Fac          ICRA D       2105^   Downgraded
                                                                                   from ICRA B+
^ includes proposed/unallocated amount of Rs. 75.67 crore
Bhatia Coke & Energy Ltd                LT non-fund based Bk  ICRA D       140     Downgraded
                                        Fac                                        from ICRA B+
Blyth Wind Park Pvt. Ltd.               Bk Loan Ratings       ICRA BBB-    1350    -
Bvl Granites                            FB Limits             ICRA BB      300     Reaffirmed
Bvl Granites                            TL                    ICRA BB      25      Reaffirmed
(revised from Rs. 19.00 crore)
Bvl Granites                            Unallocated Limits    ICRA BB      165     Reaffirmed
                                                              /ICRA A4
Dayal Steels Ltd                        Bk Fac                ICRA B+      100     Issuer Not
                                                              /ICRA A4             Cooperating
East End Technologies Pvt Ltd           Bk Fac                ICRA B/      140     Issuer Not
                                                              ICRA A4              Cooperating
Hariom Polypacks Ltd                    Bk Fac                ICRA BBB-    190     Issuer Not
                                                              /ICRA A3             Cooperating
Indian Express Newspapers               TL                    ICRA AA(SO)  4800    Reaffirmed
(Mumbai) Pvt Ltd
Jana Holdings Ltd                       NCDs                  PP-MLDICRA   7500    Assigned
                                                              BB
Jayant Printery Llp                     BLR                   ICRA BB-     100     Issuer Not
                                                              /ICRA A4             Cooperating
Jm Financial Credit Solutions           NCD programme         ICRA AA      10000   Assigned
Ltd
Jm Financial Credit Solutions           LT Bk lines           ICRA AA      35000   Outstanding
Ltd                                                                                /Assigned
Jm Financial Credit Solutions           NCD programme         ICRA AA      20000   Outstanding
Ltd
Jm Financial Credit Solutions           LT market linked      PP-MLDICRA   3000    Assigned
Ltd                                     debentures (Principal AA
                                        Protected)
Jm Financial Products Ltd               NCD programme         ICRA AA      8000    Assigned
Jm Financial Products Ltd               LT Bk lines           ICRA AA      15000   Outstanding
Jm Financial Products Ltd               NCD programme         ICRA AA      17000   Outstanding
Jm Financial Products Ltd               LT market linked      PP-MLDICRA   750     Assigned
                                        debentures (Principal AA
                                        Protected)
Jm Financial Products Ltd               LT market linked      PP-MLDICRA   4250    Outstanding
                                        debentures (Principal AA
                                        Protected)
Kvtek Power Systems Pvt Ltd             LT Fundbased – CC     ICRA BB-     90      Issuer Not
                                                                                   Cooperating
Kvtek Power Systems Pvt Ltd             LT - Unallocated      ICRA BB-     20      Issuer Not
                                                                                   Cooperating
M. K. Printpack Pvt Ltd                 LT FB limits          ICRA BB      249.2   Reaffirmed
M. K. Printpack Pvt Ltd                 LT non-FBL            ICRA BB      69.2    Reaffirmed
M. K. Printpack Pvt Ltd                 Unallocated limits    ICRA BB      1.6     Reaffirmed
                                                              /ICRA A4+
Machinfabrik Industries Pvt Ltd         BLR                   ICRA BB-/    110     Issuer Not
                                                              ICRA A4              Cooperating
Nanjappa Trust                          LT-Fund BasedTL       ICRA BBB-    105     -
Nanjappa Trust                          LT-Fund BasedCC       ICRA BBB-    25      -
Nanjappa Trust                          Proposed Limits       ICRA BBB-    220     -
Neeta Developer                         BLR                   ICRA BB-     150     Issuer Not
                                                                                   Cooperating
Polaris Liquor Pvt Ltd                  Bk Loan Rating        ICRA BB      325     -
Pri Media Services Pvt Ltd              NCD programme         ICRA A(SO)   2500    Withdrawn
Pristine Developers                     Bk Loan Rating        ICRA BB-     1450    -
Priyheer Infrastructures Pvt            LT, fundbased limits  ICRA B       150     Issuer Not
Ltd                                                                                Cooperating
Raj Engineering Co.                     BLR                   ICRA BB /    250     -
                                                              ICRA A4
Rajalakshmi Hostels Pvt Ltd             FB – TL               ICRA BB-     200     Assigned
Realtime Techsolutions Pvt Ltd          LT – Fund Based       ICRA BB+     30      -
Realtime Techsolutions Pvt Ltd          LT/ST– Unallocated    ICRA BB+     68.6    -
                                                              /ICRA A4+
Remedy Medical Services Pvt.            Bk Fac                ICRA B/ICRA  120     Issuer Not
Ltd.                                                          A4                   Cooperating
Rnb International Pvt Ltd               LT FB – CC            ICRA B       110     Issuer Not
                                                                                   Cooperating
Sagar Manufacturers Pvt Ltd             Unallocated           ICRA BBB-    90.7    Withdrawn
Sagar Manufacturers Pvt Ltd             LT FB Bk Fac^         ICRA BBB-    3259.3  Withdrawn
                                                              /A3
^Long-term fund-based limits are interchangeable with short-term fund-based limits to the extent
of Rs. 39.00 crore and in case the limits are availed as short-term facilities, the short term
rating will be applicable. The overall utilisation by way of long term and short term fund based
limits cannot exceed Rs. 335.00 crore.
Sai Marine Exports Pvt Ltd              FBL                   ICRA BBB     575     Issuer Not
                                                                                   Cooperating
Sai Marine Exports Pvt Ltd              NFBL                  ICRA BBB     65      Issuer Not
                                                                                   Cooperating
Sai Marine Exports Pvt Ltd              NFBL                  ICRA BBB     50      Issuer Not
                                                                                   Cooperating
Sai Marine Exports Pvt Ltd              Unallocated Limits    ICRA BBB     3.5     Issuer Not
                                                                                   Cooperating
Sai Point Bikes And Cars                BLR                   ICRA B       120     -
Satya Subal Himghar Pvt Ltd             Bk Fac                ICRA B/ICRA  100     Issuer Not
                                                              A4                   Cooperating
Satyeshwar Heemghar Pvt Ltd             Bk Fac                ICRA         100     Issuer Not
                                                              B-/ICRA A4           Cooperating
Shri Maa Polyfabs Ltd.                  Bk Fac                ICRA BBB-    610     Issuer Not
                                                              /ICRA A3             Cooperating
Siddeshwar Multipurpose                 Bk Fac                ICRA B/ICRA  100     Issuer Not
Heemghar Pvt Ltd                                              A4                   Cooperating
Sri Savitr Solar Pvt Ltd                FBL                   ICRA BB-     60      Issuer Not
                                                                                   Cooperating
Sri Savitr Solar Pvt Ltd                Unallocated Limits    ICRA BB-     195     Issuer Not
                                                              /ICRA A4             Cooperating
Sri Uma Jewellers India Pvt Ltd         FBL                   ICRA D       100     Issuer Not
                                                                                   Cooperating
Sri Uma Jewellers India Pvt Ltd         Unallocated Limits    ICRA D       15      Issuer Not
                                                                                   Cooperating
Srinivasa Hair Industries               LT – Fund based       ICRA BB      333.1   Issuer Not
                                                                                   Cooperating
Srinivasa Hair Industries               LT – Non fund based   ICRA BB      150     Issuer Not
                                                                                   Cooperating
Srinivasa Hair Industries               Unallocated           ICRA BB      1.9     Issuer Not
                                                                                   Cooperating
Stellar Marine Foods                    BLR                   ICRA B/      71      -
                                                              ICRA A4
Stovekraft Pvt Ltd                      LT – FB – Working     ICRA BB-     800     Reaffirmed
                                        Capital Limits
Stovekraft Pvt Ltd                      LT – TL               ICRA BB-     45      Reaffirmed
Stovekraft Pvt Ltd                      LT – Unallocated      ICRA BB-     145     Reaffirmed
Supreme Nutri Grain Pvt Ltd             TL                    ICRA B       45      Issuer Not
                                                                                   Cooperating
Supreme Nutri Grain Pvt Ltd             CC                    ICRA B       70      Issuer Not
                                                                                   Cooperating
Vikas Cot Fiber Pvt Ltd                 LT Fund Based         ICRA B+      186.8   Issuer Not
                                                                                   Cooperating
Vikas Cot Fiber Pvt Ltd                 LT Unallocated        ICRA B+      13.2    Issuer Not
                                                                                   Cooperating
Vishwas Buildcon                        LT, FB limit          ICRA B+      230     Withdrawn
Yashmu Projects                         LT- Unallocated LimitsICRA B       250     Assigned
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

ICRA may apply + or - signs for ratings to reflect a comparative standing within the category.

BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate
of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial
Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference
shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN
-Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of
Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option
convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) -
Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non
Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over
Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture;
PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional;
PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass
Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference
notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured
Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short
Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable
Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222 , E-mail at
rru.data@thomsonreuters.com)

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